The technical evaluation is passed, pricing discussions are complete, and an enterprise customer is ready to proceed with your software product. Procurement then requests your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Security assurance takes time, and a rushed, wrong assessment may not satisfy the customer’s requirements. Start by understanding what the buyer expects, then plan backward from the deadline.
First, find out exactly what was asked for, and by when, without rushing. It’s worth asking before assuming, since the request sometimes leaves more room than it first appears.
Know Which SOC 2 Report the Buyer Is Asking For
Different SOC 2 reports provide different levels of assurance. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. Whether relevant controls are suitably designed at a particular date is what Type 1 evaluates. Type 2 examines their design and operating effectiveness over a defined period.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Before commissioning an examination, confirm the report type, required scope, and acceptable reporting dates with the customer.
Keep a written record of the answers, because the report type, scope, and dates all drive the plan and the budget. If the customer’s requirements are unclear, ask for the exact wording in the contract or the security questionnaire.
Build Your Timeline Around the Observation Period
A SOC 2 type 2 examination can’t be finished just by preparing documentation and booking an auditor. Relevant controls must be operated by the organization throughout the reporting period. An initial examination may cover a period of three months, whereas subsequent reports commonly cover longer ones.
Access reviews, security training, or change approvals that your business needs to demonstrate must occur and be documented during the applicable window. Planning backward from a customer deadline helps identify whether the requested report can realistically be delivered on time.
When the deadline can’t be met within the observation period, say so to the customer early. A dated plan is one interim step that some customers are willing to discuss when they hear about the gap early.
What Exactly Are You Paying For?
SOC 2 does not issue certificates, even though businesses frequently search for SOC 2 type 2 certification.
What you get is an attestation report from a licensed CPA firm that performs an independent examination against the applicable AICPA Trust Services Criteria. The report covers the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Often under a confidentiality agreement, that document is what customers typically review. A SOC type 2 report also relates to a specific historical period. It does not automatically provide assurance about every change made afterward.
Know the Costs Before Starting
An independent examination fee is only part of the cost of SOC 2 preparation. Help may be needed to develop policies, conduct risk assessments, prepare evidence, train employees, and arrange security testing.
Siege Cyber advertises a SOC 2 compliance package for businesses with up to 50 employees, priced at AUD $2,750 per month, excluding GST, over twelve months. Eligible contracts signed by December 31, 2026 are covered by the advertised offer. Included in its package are compliance preparation, training, a compliance platform, and external penetration testing.
Siege Cyber indicates typical fees of approximately AUD 5,000–15,000 for the independent CPA examination, which is billed separately, depending on scope and complexity. Check current pricing, eligibility, and deliverables before you commit.
What Happens When Your Report No Longer Covers Today?
Suppose your Type 2 report covers January through June, but a customer requests assurance in October. The report does not examine the intervening months. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
Acceptance depends on the customer’s requirements, however, and a bridge letter does not replace an independent examination. Don’t assume an older report will satisfy procurement; discuss reporting gaps early.
Make Compliance Count Beyond the Next Contract
Siege Cyber provides Australian-based SOC 2 readiness support with fixed-price consulting packages and independent audit coordination. The most useful approach for growing software companies is to connect compliance preparation with actual operational responsibilities.
Assign control owners, maintain security records, and establish a reporting schedule that supports future customer reviews. A successful SOC 2 project should leave your business better prepared for the next enterprise opportunity, not simply help it respond to the current request.
Keep the evidence you collect organized from the beginning, and the next audit cycle becomes less of a scramble. Review responsibilities and schedules regularly so controls keep operating between audits.
